In the last trading session, 4.08 million shares of the Gerdau S.A. (NYSE:GGB) were traded, and its beta was 1.67. Most recently the company’s share price was $4.90, and it changed around $0.05 or 1.03% from the last close, which brings the market valuation of the company to $7.91B. GGB currently trades at a discount to its 52-week high of $7.16, offering almost -46.12% off that amount. The share price’s 52-week low was $3.64, which indicates that the current value has risen by an impressive 25.71% since then. We note from Gerdau S.A.’s average daily trading volume that its 10-day average is 9.49 million shares, with the 3-month average coming to 9.63 million.
Gerdau S.A. stock received a consensus recommendation rating of a Buy, based on a mean score of 2.30. If we narrow it down even further, the data shows that 0 out of 11 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended GGB as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight. Gerdau S.A. is expected to report earnings per share of $0.43 for the current quarter.
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Instantly GGB has showed a green trend with a performance of 1.03% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 5.13 on Friday, 10/08/21 increased the stock’s daily price by 4.48%. The company’s shares are currently up 7.04% year-to-date, but still down -4.30% over the last five days. On the other hand, Gerdau S.A. (NYSE:GGB) is -4.51% down in the 30-day period. We can see from the shorts that 13.44 million shares have been sold at a short interest cover period of 1.54 day(s).
The consensus price target as assigned by Wall Street analysts is $7.63, which translates to bulls needing to increase their stock price by 35.78% from its current value. Analyst projections state that GGB is forecast to be at a low of $5.71 and a high of $8.94. In order for the stock price to hit the forecast high, the stock would need to plunge -82.45% from its current level, while the stock would need to crash -16.53% from its current level to reach the projected low.
Gerdau S.A. (GGB) estimates and forecasts
Gerdau S.A. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -8.04 percent over the past six months and at a 385.19% annual growth rate that is well above the industry average of 13.30%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 2,050.00% in revenue this quarter, and will report an increase of 255.60% in the next quarter. The year-over-year growth rate is expected to be 54.70%, up from the previous year.
Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $3.81 billion in revenue for the current quarter. 1 analysts expect Gerdau S.A. to make $3.21 billion in revenue for the quarter ending Sep 2021. The company’s sales for the same quarters a year ago were $1.54 billion and $2.33 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 147.70%. Forecasts for the next quarter put sales growth at 37.80%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 20.30%. Gerdau S.A. earnings are expected to increase by 96.20% in 2021, but the outlook is positive 5.33% per year for the next five years.
Gerdau S.A.’s next quarterly earnings report is expected to be released in November. The annual dividend yield of the stock is 4.69 percent and its annual dividend per share was 0.23. It is important to note, however, that the 4.69% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 1.51 per year.
Gerdau S.A. (NYSE:GGB)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.00% of Gerdau S.A. shares, and 32.91% of them are in the hands of institutional investors. The stock currently has a share float of 32.91%. Gerdau S.A. stock is held by 232 institutions, with Capital International Investors being the largest institutional investor. By Jun 29, 2021, it held 8.85% of the shares, which is about 101.43 million shares worth $598.45 million.
Contrarian Capital Management, LLC, with 1.80% or 20.65 million shares worth $121.82 million as of Jun 29, 2021, holds the second largest percentage of outstanding shares.
New Perspective Fund Inc and New World Fund, Inc. were the top two Mutual Funds as of Jun 29, 2021. The former held 55.8 million shares worth $329.2 million, making up 4.87% of all outstanding shares. On the other hand, New World Fund, Inc. held roughly 34.06 million shares worth around $200.95 million, which represents about 2.97% of the total shares outstanding.